BEST OF JIM COOK

BEST OF JIM COOK2019-03-062019-03-06https://www.investmentrarities.com/wp-content/uploads/silverlogo.pngInvestment Rarities Incorporatedhttps://www.investmentrarities.com/wp-content/uploads/silverlogo.png200px200px

INCOME INEQUALITY

The liberal media constantly bombards us with three major left-wing themes. First, it’s global warming and the green new deal advanced by the left’s new superstar, the economically illiterate Ocasio-Cortez. Secondly, we have the frequent accusations of racism and almost daily dustups in the news about a supposed racial slight somewhere. Finally, there are the constant refrains about income inequality. The media regularly reports left-wing accusations about the rich grabbing an unfair share. The goal is to sock it to the affluent with high taxes. We constantly read and hear about the far left economic theories of Krugman, Stiglitz, Pickety, Bernstein, Reich and the organizations that employ them. Most have views more in harmony with Marxists than free market economists. Almost everything that has been published on income inequality comes from left-wing think tanks and liberal organizations. None of it can be trusted.

You hear endlessly about the 1% who are getting richer. However, this is not at the expense of the 99% because the wealthy only make the economic pie bigger. Lately the affluent have been creating and investing to develop innovations and new technologies like tablets and smartphones that are helping lift a billion people out of extreme poverty. Here in the land of opportunity you get rich by providing new and better products and services. Go to a big mall and look into a crowded Apple store. That’s how you get super rich, and if you change the world, you deserve your billions.

This income disparity that dominates the news has a lot to do with social and cultural factors. The rich may be getting richer, but the poor are not joining in. That’s because of problems like illegitimacy, addiction, educational shortcomings, criminality, one-parent families and the cult of victimhood. All of these pathologies are supported and encouraged by government subsidies. The high taxes that leftists argue for would make income inequality worse by keeping more people in poverty. If the left gets their way, we are all going to be poorer. Liberal economists without any business or practical experience advocate socialism and the media glorifies them. The educational system, the government and the media are in league to shove socialism down our throats. Our future hinges on the ability to thwart these redistributionists.